Dividend stocks are gaining popularity as major technology companies announce their first-ever dividends this year. Americans are turning to dividend equities amidst inflation concerns and expectations of a prolonged high-for-longer scenario. Affordable stocks that offer high dividends are currently in the spotlight.
One notable name in the mining industry is B2Gold Corp (NYSE:BTG). With 14 hedge fund investors, this Canadian-based mining company recently posted strong first-quarter results. Adjusted EPS exceeded estimates by $0.01, while revenue, although down 2.6% year over year, still surpassed expectations by $17.67 million. Total gold production met estimates at 225,716 ounces.
As of May 14, B2Gold Corp’s forward dividend yield stood at around 5.8%. The stock has a 12-year average analyst price estimate of $4.18, while trading at approximately $2.77 on the same date, indicating a potential upside of about 50% from current levels.
Hedge funds also show interest in this dividend-paying penny stock, with 14 out of 933 tracked funds holding stakes in B2Gold Corp (NYSE:BTG). The largest stake is held by Jean-Marie Eveillard’s First Eagle Investment Management, valued at around $35 million. Despite this, B2Gold remains a small company with relatively low hedge fund sentiment compared to larger companies like Johnson & Johnson, Procter & Gamble Co, and Exxon Mobil Corp.
While B2Gold Corp (NYSE:BTG) is a solid high-dividend penny stock, Insider Monkey’s research suggests that there are other options that may be more attractive. For the top 10 high-dividend penny stocks to consider over B2Gold, refer to Insider Monkey’s recommendations. No disclosures were provided in this article.